Edition:
United States

Sixth of October Development and Investment Co SAE (OCDI.CA)

OCDI.CA on Cairo Stock Exchange

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20 Sep 2018
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Latest Key Developments (Source: Significant Developments)

Egypt's SODIC Receives Award Letter For 500 Acre Plot In West Cairo
Monday, 17 Sep 2018 02:01am EDT 

Sept 17 (Reuters) - SIXTH OF OCTOBER DEVELOPMENT AND INVESTMENT CO ::RECEIVES AWARD LETTER FOR 500 ACRE PLOT IN WEST CAIRO EXPANDING ITS UNDEVELOPED LAND BANK TO A TOTAL OF 8 MILLION SQUARE METERS.SAYS PROJECT IS EXPECTED TO COMPRISE OVER 5,000 UNITS GENERATING AN ESTIMATED TOTAL SALES OF CIRCA EGP 43 BILLION OVER A PERIOD OF EIGHT YEARS.NUCA TO GET 14.2 BILLION OVER 11 YEARS OF WHICH EGP 8.5 BILLION ARE FIXED INSTALLMENTS ,IN ADDITION TO 15% OF ANNUAL COLLECTIONS.SAYS PROJECTED PAYMENTS IMPLY A LAND COST PER SQM OF EGP 2,300 ON A NET PRESENT VALUE BASIS DISCOUNTED AT 16 PERCENT.EXPECTS TO GENERATE SALES OF SOME EGP 150 BILLION OVER THE COMING 11 YEARS.  Full Article

Egypt's Sodic Q2 Consol Profit Rises
Wednesday, 15 Aug 2018 03:24am EDT 

Aug 15 (Reuters) - SIXTH OF OCTOBER DEVELOPMENT AND INVESTMENT CO ::Q2 CONSOL NET PROFIT ATTRIBUTABLE TO SHAREHOLDERS EGP 161.1 MILLION VERSUS EGP 129.8 MILLION YEAR AGO.Q2 CONSOL TOTAL REVENUE EGP 538.1 MILLION VERSUS EGP 469.9 MILLION YEAR AGO.H1 CONSOL NET PROFIT ATTRIBUTABLE TO SHAREHOLDERS EGP 372.9 MILLION VERSUS EGP 340.5 MILLION YEAR AGO.H1 CONSOL TOTAL REVENUE EGP 1.05 BILLION VERSUS EGP 1.17 BILLION YEAR AGO.  Full Article

Sodic, Madinet Nasr Appoint Advisers for Merger/Acquisition
Sunday, 20 May 2018 02:02am EDT 

May 20 (Reuters) - SIXTH OF OCTOBER DEVELOPMENT AND INVESTMENT CO ::UPDATES ON POSSIBLE COOPERATION BETWEEN CO AND MADINET NASR BY WAY OF MERGER OR ACQUISITION.EFG HERMES AND ZAKI HASHEM & PARTNERS, ATTORNEYS AT LAW, HAVE BEEN APPOINTED AS ADVISORS TO MNHD.APPOINTS CI CAPITAL AND MHR & PARTNERS (WHITE & CASE) AS ADVISORS.  Full Article

SODIC To Enter Into Talks With MNHD To Explore Strategic Alternatives
Wednesday, 11 Apr 2018 04:00am EDT 

April 11 (Reuters) - SIXTH OF OCTOBER DEVELOPMENT AND INVESTMENT CO ::CONFIRMS IT WILL ENTER INTO PRELIMINARY TALKS WITH MADINET NASR (MNHD) TO EXPLORE STRATEGIC ALTERNATIVES BY WAY OF MERGER OR ACQUISITION.  Full Article

Medinet Nasr To explore Potential Merger Or Acquisition With Sodic
Tuesday, 10 Apr 2018 09:36am EDT 

April 10 (Reuters) - MEDINET NASR FOR HOUSING AND DEVELOPMENT ::BOARD DISCUSSED POTENTIAL COOPERATION WITH SODIC THROUGH MERGER OR ACQUISITION.BOARD AUTHORIZED CHAIRMAN TO COMMUNICATE WITH SODIC ON POTENTIAL DEAL.BOARD APPROVES APPOINTMENT OF EFG HERMES AS FINANCIAL ADVISER.BOARD APPROVES APPOINTMENT OF ZAKI HASHEM & PARTNERS AS LEGAL ADVISER.  Full Article

SODIC To Develop Residential Tourism Project in Partnership
Sunday, 11 Mar 2018 12:17am EST 

March 11 (Reuters) - SIXTH OF OCTOBER DEVELOPMENT AND INVESTMENT CO ::SIGNS TWO PARTNERSHIP DEALS TO DEVELOP RESIDENTIAL TOURISM PROJECT ON ABOUT 308 FEDAN PLOTS.OWNERS OF PLOTS TO HAVE PARTICIPATION OF 28 PERCENT AND CO 72 PERCENT OF TOTAL REVENUE OF RESIDENTIAL AND COMMERCIAL UNITS.EXPECTS TOTAL CUSTOMER CONTRACTS OF PROJECT TO REACH ABOUT EGP 15.2 BILLION DURING 7 YEARS.  Full Article

SODIC Says RA Mena Holding Interested To Buy 10 Pct Stake
Wednesday, 7 Feb 2018 03:25am EST 

Feb 7 (Reuters) - SIXTH OF OCTOBER DEVELOPMENT AND INVESTMENT CO ::SAYS RA MENA HOLDING IS INTERESTED TO BUY 10 PERCENT STAKE IN CO‍​.  Full Article

Egypt's Sodic Q3 profit rises
Wednesday, 15 Nov 2017 02:45am EST 

Nov 15 (Reuters) - SIXTH OF OCTOBER DEVELOPMENT AND INVESTMENT CO SAE ::Q3 CONSOL NET PROFIT AFTER MINORITY INTEREST EGP 166.5 MILLION VERSUS EGP 108.1 MILLION YEAR AGO.Q3 CONSOL TOTAL REVENUE EGP 583.8 MILLION VERSUS EGP 531.5 MILLION YEAR AGO.NINE-MONTH CONSOL NET PROFIT EGP 507.7 MILLION VERSUS EGP 266.5 MILLION YEAR AGO.  Full Article

Egypt's SODIC signs EGP 270 mln credit facility with CIB
Wednesday, 30 Aug 2017 09:40am EDT 

Aug 30 (Reuters) - SIXTH OF OCTOBER DEVELOPMENT AND INVESTMENT CO ::SIGNS EGP 270 MILLION MID-TERM CREDIT FACILITY WITH EGYPT'S COMMERCIAL INTERNATIONAL BANK EGYPT .CREDIT FACILITY TO BE USED TO FINANCE OCTOBER PLAZA PROJECT.  Full Article

Egypt's SODIC unit increases credit facility amount to EGP 1.4 bln
Thursday, 24 Aug 2017 03:57am EDT 

Aug 24 (Reuters) - SIXTH OF OCTOBER DEVELOPMENT AND INVESTMENT CO ::UNIT SORRELL FOR REAL ESTATE INVESTMENT SIGNS AGREEMENT WITH ARAB AFRICAN INTERNATIONAL BANK TO INCREASE CREDIT FACILITY AMOUNT TO EGP 1.4 BILLION.  Full Article